Turtlemint

insurtechaggregators / policy management

FOUNDING YEAR: 2015
LOCATION: India
Last Update: 18/10/2019

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About

Turtlemint makes it easy to understand and buy insurance. Our intent is to demystify insurance by explaining the jargon in a simple way and providing smart tools to help a user make the right choice. From search to purchase, the entire process can be completed online in just a few clicks! We also have a team of friendly insurance advisors available on chat, phone and in-person to help users with purchase and claim services. We currently offer Car insurance, bike insurance, health insurance & term life insurance

MEDICI Analysis

Turtlemint offers a personalized insurance platform that enables users to compare, buy, and renew their insurance policies. It has partnered with major insurance carriers to provide insurance products on its platform. The platform also assists users with the settlement of claims by verifying the relevant information and directly sharing it with insurers.

Focus

PRODUCTS & SERVICES

The platform offers a range of insurance products: 1. Car Insurance: Third-party car insurance and zero depreciation car insurance. 2. Bike Insurance Third-party bike insurance and comprehensive bike insurance. 3. Health Insurance: Family health insurance, Mediclaim insurance, maternity health insurance, and senior citizen health insurance. 4. Life Insurance: Term insurance plans along with term insurance premium calculator.

REVENUE MODEL

The company charges commission fees from insurance partners.

MAIN CLIENTS

Retail Customers

EXISTING PARTNERSHIPS

The company has partnerships with more than 20 insurance players. Some of its partners; Bharat AXA

HDFC Ergo

Tata AIG

Cigna

Bajaj Allianz

Bharti AXA

Religare

etc.

COMMENT

Turtlemint makes recommendations by evaluating 20 different data points including details on policy, insurers, hospitals, vehicles, garages, and customers.

company provided insights

Traction

TRANSACTIONS COMMENT:

The company has sold more than 50K policies and processed claims worth INR 15 crores till date. (May 2018)

People

FOUNDERS

Kunal Shah

Dhirendra Mahyavanshi

Kunal Shah

Anand Prabhudesai

NUMBER OF EMPLOYEES

11-50

INVESTORS:

Blume Ventures

Nexus Venture Partners

Sequoia Capital

Sequoia Capital India

Momentum

FUNDED

YES

TOTAL FUNDING

$31 M

DATE OF LAST FUNDING

Jan 2019

SEED PRIOR FUNDING COMMENT

An undisclosed amount of funding was raised in February 2016.

FUNDING SERIES

SERIES A  · $6 M  · Dec 2018

OTHERS  · $25 M · Jan 2019

LISTED

NO

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